MONTREAL, Jan. 29,
2025 /CNW/ - Strategic Resources Inc.
(TSXV: SR) (the "Company" or "Strategic") is pleased to
announce that it has signed a Collaboration Agreement (the
"Agreement") with Tacora Resources Inc. ("Tacora") that will
explore using Tacora's iron ore concentrate to feed Strategic's
planned Phase 1 High-Purity Iron Pelletizer project (the "Project")
at Port Saguenay. The Agreement will focus on testing of Tacora's
iron ore concentrate to determine the suitability for the direct
reduction grade pellets that Strategic plans to produce from the
Project. The Agreement considers Strategic purchasing up to 25% of
Tacora's future expanded throughput capacity. This could provide
the Project with approximately 25% to 40% of the required iron ore
concentrate feed for pelletizing.
Sean Cleary, CEO of Strategic
commented: "We are pleased to be engaging with the Tacora team,
who's new leadership has an impressive, demonstrated track record
in the iron space. Local Canadian iron ore sources such as Tacora's
Scully Mine in the Labrador Trough will help to increase downstream
value creation within the Canadian iron ore industry and enhances
the overall development of clean, green steel inputs in
Canada."
Brian Penney, CEO of Tacora
commented: "Tacora is committed to supporting the transition to
a low-carbon economy, and this collaboration with Strategic
Resources represents a significant step in that direction," said
Brian Penney, CEO of Tacora
Resources. "Our high-grade iron ore is already being used in the
direct reduction iron market, and through this partnership, we will
be exploring new opportunities to help drive the growth of green
steel production. This is a key part of our strategy to provide
high-quality, sustainable products that meet the evolving demands
of the global steel industry."
About Tacora Resources
Tacora is a private company focused on the production and sale
of high-grade and high-quality iron ore products that improve the
efficiency and environmental performance of steel making customers
in Europe, in the Middle East, and Asia. The Company owns and operates the Scully
Mine, an iron ore concentrate producer located near Wabush, Newfoundland and Labrador, Canada with a production capacity of
six million tonnes per year. Additional information about the
Company is available at www.tacoraresources.com.
About Strategic Resources
Strategic Resources Inc. (TSXV:SR) is a critical mineral
development company focused on becoming a supplier of green steel
inputs. The Company has a planned metallurgical facility site in
Canada and high-purity iron and
vanadium projects in Canada and
Finland. The Company is developing
its flagship BlackRock Project, which is a fully permitted and
ready to construct mine, concentrator and metallurgical facility
located at a seaport in Québec with full access to the St. Lawrence
Seaway. Phase 1 of the BlackRock project now envisages building a 4
million tonne per year high-purity iron ore pelletizer in Port
Saguenay. The Company's Head Office is in Montreal, Québec.
Further details are available on the Company's website
at https://strategic-res.com/. To follow future news releases,
please sign up at https://strategic-res.com/contact/.
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STRATEGIC RESOURCES INC.
Signed: "Sean
Cleary"
Sean
Cleary, CEO
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Cautionary Note Regarding Forward-Looking
Information
Certain statements and information herein, including all
statements that are not historical facts, contain forward-looking
statements and forward-looking information within the meaning of
applicable securities laws. Such forward-looking statements or
information include but are not limited to statements or
information with respect to using, testing or purchasing Tacora's
iron ore concentrate. Often, but not always, forward-looking
statements or information can be identified by the use of words
such as "will" or "projected" or variations of those words or
statements that certain actions, events or results "will", "could",
"are proposed to", "are planned to", "are expected to" or "are
anticipated to" be taken, occur or be achieved.
Although management of the Company believes that the
assumptions made and the expectations represented by all
forward-looking statements or information are reasonable, there can
be no assurance that a forward-looking statement or information
herein will prove to be accurate. Forward-looking statements and
information by their nature are based on assumptions and involve
known and unknown risks, uncertainties and other factors which may
cause the Company's actual results, performance or achievements, or
industry results, to be materially different from any future
results, performance or achievements expressed or implied by such
forward-looking statements or information. These factors include,
but are not limited to: risks associated with the business of the
Company; business and economic conditions in the mining industry
generally; the supply and demand for labour and other project
inputs; changes in commodity prices; changes in interest and
currency exchange rates; risks relating to inaccurate geological
and engineering assumptions (including with respect to the tonnage,
grade and recoverability of reserves and resources); risks relating
to unanticipated operational difficulties (including failure of
equipment or processes to operate in accordance with specifications
or expectations, cost escalation, unavailability of materials and
equipment, government action or delays in the receipt of government
approvals, industrial disturbances or other job action, and
unanticipated events related to health, safety and environmental
matters); risks relating to adverse weather conditions; political
risk and social unrest; changes in general economic conditions or
conditions in the financial markets; and other risk factors as
detailed from time to time in the Company's continuous disclosure
documents filed with Canadian securities administrators. Strategic
does not undertake to update any forward-looking information,
except in accordance with applicable securities laws.
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SOURCE Strategic Resources Inc.
